Nayara Energy
 | This article needs more citations. (July 2023) |
| Nayara Energy | |
|---|---|
 | |
 | |
| Formerly | Essar Oil Limited |
| Type | Private |
| Industry | Oil and gas |
| Founded | 12 September 1989 |
| Founder | Shashi, Ravi Ruia |
| Headquarters | Nayara Energy Limited
5th Floor, Godrej BKC, Plot No. C-68, G Block, Bandra Kurla Complex, , India |
| Key people |
|
| Products | Petroleum |
| Revenue |  ₹150,324 crore (US$16 billion) (2025) |
|
₹9,528 crore (US$1.0 billion) (2025) | |
|
₹6,079 crore (US$650 million) (2025) | |
| Total assets |
₹85,447 crore (US$9.1 billion) (2025) |
| Total equity | 
₹50,010 crore (US$5.3 billion) (2025) |
| Owners | Rosneft (49.13%) Kesani Enterprises Co Ltd and United Capital Partners(49.13%) |
| Website | www |
| Footnotes https://www.nayaraenergy.com/storage/news-rooms/August2025/tZeRnDAPQxuiGKEwfupT.pdf | |
Nayara Energy Limited (NEL) (pronounced na-yaa-raa -ˈnæ.ˈjɑː rə) (ⓘ) is an Indo-Russian oil refining and marketing company that owns and operates Vadinar Refinery located at Dwarka district of Devbhumi Dwarka Vadinar, Gujarat, India with a capacity of 250 MMTPA of refining capacity Crude oil processed making it the second largest refinery in India. It operates 6000+ Nayara branded outlets and over 1200 petrol pumps in various states.
History
Nayara Energy operates the second-largest refinery in India. It is in Vadinar, Devbhoomi Dwarka District, a few kilometres from the world's largest refining complex (Jamnagar Refinery of Reliance Industries).[citation needed]
Buyout
It was a publicly traded company (NSE: ESSAROIL and BSE: 500134) until it was taken private in a leveraged buyout which closed on 30 December 2015. It was delisted valued at ₹380 billion (US$5.3 billion).
Operations
It operates over 7000 retail fuel outlets in the country, highest for any private oil company in India.
The refinery is supported by a crude oil tanker facility, water intake facilities, a multi-fuel power plant, a product jetty, dispatch facilities (rail, road, and sea) and retail outlets.
Vadinar processes ~400,000 bpd (~20 million MT/year), making it India's second‑largest single‑site refinery, with ~7,000 retail outlets under the Nayara brand.
International sanctions
July 2025 – European Union sanctions
Source:
On 18 July 2025, amid its 18th sanctions package targeting Russian oil and energy revenues, the EU designated Nayara Energy's Gujarat-based Vadinar refinery—49.13 % owned by Russia's Rosneft—as subject to sanctions, citing its status as the "biggest Rosneft refinery in India" and its role in refining Russian crude into petroleum products.
These measures include:
- "prohibition on importing refined petroleum products made from Russian crude via third countries (effective after a 6‑month transition);"
- "asset freezes, travel bans, and restrictions on financial services and shipping/insurance for activities linked to refining or transporting Russian oil — including involvement in the EU "shadow fleet";"
- "a lowered EU oil price cap on Russian crude (approx. US$47.6/bbl, effective 3 Sept 2025) with a dynamic mechanism to prevent evasion;"
Impact and response:
- "Nayara is banned from exporting to the EU, and risks losing access to European banking, insurance, and technology services."
- "India criticised the move as “unilateral” and accused the EU of “double standards”, citing strategic energy needs."
- "The sanctions likely hinder Rosneft’s planned 49 % stake sale and complicate Reliance’s cross-border fuel exports to Europe."
